Concurrent audit is a part of____________?

Related Mcqs:

Which of the following statements is not correct about materiality?

A. Materiality is a relative concept B. Materiality judgments involve both quantitative and qualitative judgments C. Auditor’s consideration of materiality is influenced by the auditor’s perception of the needs of an informed decision maker who will rely on the financial statements D. At the planning state, the auditor considers materiality at the financial statement level … Which of the following statements is not correct about materiality?Read More...

In an audit of financial statements, substantive tests are audit procedures that __________?

A. May be eliminated for an account balance under certain conditions B. Are designed to discover significant subsequent events C. Will increase proportionately when the auditor decreases the assessed level of control risk D. May be test of transactions, test of balance and analytical procedures...

The nature, timing and extent of substantive procedures is related to assessed level of control risk

A. Randomly B. Disproportionately C. Directly D. Inversely...

Which of the following is not an advantage of the preparation of working paper?

A. To provide a basis for review of audit work B. To provide a basis for subsequent audits C. To ensure audit work is being carried out as per programme D. To provide a guide for advising another client on similar issues...

The auditor’s permanent working paper file should not normally, include__________?

A. Extracts from client’s bank statements B. Past year’s financial statements C. Attorney’s letters D. Debt agreements...